City Office REIT (NYSE:CIO) Posts Quarterly Earnings Results, Misses Estimates By $0.36 EPS

City Office REIT (NYSE:CIO) announced its quarterly earnings results on Thursday. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.36), Zacks reports. City Office REIT had a negative return on equity of 1.07% and a negative net margin of 4.02%. The company had revenue of $42.37 million for the quarter, compared to analyst estimates of $42.02 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. City Office REIT updated its FY 2024 guidance to 1.150-1.170 EPS.

City Office REIT Stock Down 0.8 %

CIO stock opened at $5.08 on Friday. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 1.00. The firm’s 50-day simple moving average is $5.79 and its 200 day simple moving average is $5.35. The stock has a market cap of $203.98 million, a PE ratio of -14.11, a price-to-earnings-growth ratio of 0.86 and a beta of 1.95. City Office REIT has a fifty-two week low of $3.87 and a fifty-two week high of $6.70.

City Office REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.40 annualized dividend and a dividend yield of 7.87%. City Office REIT’s dividend payout ratio is currently -111.11%.

City Office REIT Company Profile

City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located predominantly in Sun Belt markets. City Office currently owns or has a controlling interest in 5.7 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S.